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Tech Boom

March 7th 2019

By Mansion Global

“Berlin has established itself in international competition as one of the prime locations for high-tech,” said Anita Gärtner, managing partner of Berlin Sotheby’s International Realty, making it “one of the world’s most vibrant startup cities.”

“Google has recently opened a new office in Berlin; other big names such as SoundCloud and Zalando have their headquarters here,” she said. “Nearly US$3 billion in venture capital flowed into its start-ups in 2017. Some well-known names, such as GoEuro, a booking platform for planes, buses and trains; N26, a fintech start-up and mobile bank; and MoBerries, offering AI recruitment software, are based here.”

She also thinks the city has all it takes to be the next foodie destination of Europe. Restaurant Tim Raue has two Michelin stars, while last year chef Björn Swanson, known for his Michelin-star restaurant Golvet, opened another, The Dawg, where urban fast food and high-end cuisine meet to redefine the hot dog.

Then there is shopping, with the new East Side Mall opening in October 2018, with 37,800 square meters of rental space and 110 shops.

“With Brexit around the corner, Berlin may be seen as an opportunist location for big-name investors from all over the world,” Ms. Gärtner said.

At the top end of the market, apartments are changing hands for between €15,000 and €30,000 (US$16,900 to US$33,800) per square meter, Gärtner said.